Frankel, who retired unbeaten after winning his 14th race last October, is standing at stud at Banstead Manor Stud in Newmarket, Suffolk, for a fee of £125,000. He won £2,998,302 in his race career. The first mare was confirmed in foal to Frankel earlier this month.

Black Caviar’s co-owner Gary Wilkie told Racing Network: “The only reason you would go to Royal Ascot is that you are going to go to Frankel.

“We’re not going to Royal Ascot if we can’t go to Frankel. That’s the issue not all the other bits and pieces. We have got a lot of decisions to make.”

Trainer Peter Moody said: “I don’t think it would be a silly mating, physically I think they would be a good match.”

Moody said Black Caviar’s bext start could be the Gr 1 T.J. Smith Stakes (1200 m) at Randwick on April 13. She won the race two years ago.